The Buyers’ Block

When it comes to purchasing a home, finding that perfect floor plan with the beautiful landscaping and fabulous amenities is just a small part that completes the entire process. There are many factors that need to be considered and researched prior to submitting an offer. Therefore, it is imperative that you have an educated real estate agent guiding and assisting you every step of the way.

Through my years of experience, I have found that there are many myths that buyers believe and unfortunately fall victim to. Following are two myths that continuously surround the subject of purchasing a newly constructed property:

MYTH : “I will get a better deal if I do not use a real estate agent to help me purchase a newly constructed home.”

TRUTH : Most builders welcome agents and really want buyers to have an agent working with them. The sales price you are quoted is going to be the same whether you have me there to assist you or not. And there are important questions that I need to ask the builder on your behalf that involve property value, resale value, tax prorations, tax amount for a realistic good faith estimate, subdivision build-out, etc, etc that you may not know to ask. I also review the closing cost statement prior to your signing, to make sure all the figures are what they should be. And this is just an abbreviated list.  

MYTH : “It is a newly built home, therefore an independent inspection is not necessary.”

TRUTH: Every inspection is going to reveal some item that requires attention prior to closing. Even builders with fabulous reputations have items that appear on reports that need to be addressed. Example - One of my clients discovered that the foundation on the house he was to purchase, was poured extremely unlevel, but was not visible to the naked eye. By building code standards, it was not considered  “defective”, but it would have severely decreased his resale value and he would not have been covered by the builder’s foundation or structural warranty. Therefore, I consider inspection reports a necessity when purchasing resale or new.